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HAMP Program

Home Affordable Modification Program: Overview

The Home

Affordable Modification Program

or

HAMP

is intended to rescue as many as Several Million financially stressed homeowners escape foreclosure by modifying the current mortgage to a reasonable amount that is very affordable in favor of borrowers at the present and maintainable over the Extended term. The program offers understandable and dependable loan modification principles that the complete mortgage industry can apply.

Borrower qualification is concluded when meeting particular criteria together with:

1) Borrower is past due on their mortgage or faces forthcoming chance of non-payment.

2) Property is occupied as borrower's primary residence.

3) Mortgage was created on or prior to Jan. 1, 2009 as well as the outstanding principal balance ought to be no larger than $729,750 for one-unit properties.

After deciding a borrower's eligibility, a servicer will assume a progression of actions to change the month to month mortgage payment to 31% of a borrower's whole pretax monthly revenue:

Initially, decrease the interest rate to as low as 2%,

After that, if needed, expand the mortgage term to 40 years,

As a final point, if needed, abstain (postpone) a segment of the principal until the mortgage is paid off as well as waive interest on the delayed total.

Remark: Servicers could choose to pardon principal under

HAMP

on a separate basis or previous to any modification process in order to complete the intended monthly mortgage payment.

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About Us

Our mission is quite simple, to provide a high quality service to American Home Owners by connecting them with Qualified, Integrity filled companies, who will treat them with precedence above monetary gain, so they actually do find relief from their existing Mortgage. We here at Nation Loan Modification Help are not only Americans but also home owners ourselves, and your home is more than just a house. It is our sanctuary for our families and generations to come and truly that is the main reason for the start of this company. To Help American Home Owners and Families by keeping them on course in the right direction, so that they may keep their home and get back on with their lives. Call it Patriotism, or the last True American Company, but We Love Americans, We Love America, and We can Help You.